Russia’s Mechel plans to restructure two bond series; meeting to come

By Susanna Moon

Chicago, Sept. 2 – Mechel OAO said it plans to restructure its 13 and 14 series bonds.

The company plans to introduce changes in the payment schedule and to reconsider the order of determining the coupon rate for future periods, according to a company notice.

The two bond series were issued on Aug. 10, 2010.

Holders may get information on the restructuring process by e-mailing bonds@vtbcapital.com or at mechel.ru/shareholders/bonds.

The bondholders meeting will be announced at a later date.

Mechel is a Moscow-based mining, metals and power company.

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